Tesla shares rise amid raft of new hires including proven tech talent

Ilona-Billington
May 28, 2018 2 min read

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Tesla shares closed higher in the US Friday as the electric car maker shared the news that it has hired eight new senior team members in recent weeks. And, a number of them come from well-known tech giants including, Amazon, Apple and Snap.

The raft of hiring comes as Elon Musk’s well-known business has a lost a couple of key executives as it strives to move forward and hit production targets.

Tesla shares ended the US Friday trading session 0.36% higher at $278.85. The stock is also higher in out-of-hours activity.

Tesla hires new key executives

Tesla has sought experienced talent to fill up his leadership team as he works to make Tesla the success he has promised it will be.

Among the new hires are:

New VP of engineering, Stuart Bowers. He joins from Snap where he was VP of monetizing engineering. Bowers will be responsible for much of Tesla’s software and hardware engineering. Prior to Snap, Bowers worked at Facebook in the data infrastructure and machine learning team.

Tesla’s new Director of Energy Manufacturing is Neeraj Manrao. Manrao joins from Apple, where he was the top executive for the technical operations team.

The new Director of Vehicle Delivery Operations, meanwhile, is former Amazon employee and Director of Logistics operations there, Mark Mastandrea.

“We’re excited to welcome a group of such talented people as we continue to ramp Model 3 and accelerate towards a more sustainable future,” Tesla said in a blog post on the new hires. “We’ll be announcing more hires in the coming days, so stay tuned.”

Other new hires of note

The three former tech giant executives aren’t the only new hires of interest for Tesla. The remaining eight are also made up of experienced senior executives.

WalMart has lost its VP of Digital Acceleration as Kate Pearson is the new Tesla Director of Field Delivery Operations.

And, Tesla’s new CFO, James Zhou, comes from Ingersoll Rand and was also held top financial positions at General Electric and General Motors.

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